Cannabis and Bitcoin: A Perfect Match?

Every new trend inevitably hits growing pains, and two of the hottest trends in investing are certainly not exceptions.

From small trial programs in a small handful of states, medical and recreational cannabis has grown at a blistering pace. There are now 28 states that have legalized medical cannabis, and eight states with full legalization.

Within about a year, all of Canada will fully legalize, and a slew of countries are either about to implement or are exploring medical or recreational use, including Mexico, Germany, Brazil, and Australia, to name just a couple of the larger ones.

The North American cannabis market posted $6.7 billion in revenue in 2016, up a full 30% from 2015, according to a recent report from Arcview Market Research.

And that phenomenal growth isn’t an outlier. Arcview projects sales to grow at a compound annual growth rate of 25% through 2021.

The cannabis market is growing as fast as Internet companies were in the 2000s.

Within four years, it’s expected to be a $20.2 billion market.

All of this has come about in a matter of years.

Then there is Bitcoin. The cryptographic and digital currency is approaching 10 years of existence.

From a small group of ardent supporters and hobbyists of sorts, there are now 16.4 million of the absolute cap of 21 million in circulation.

All told, there are over $44 billion worth out there now.

Yet both faced similar problems: Figuring out the infrastructure that allows businesses and individuals to buy and sell them efficiently.

That is rapidly changing, and the cannabis market is finding a solution to one of its few remaining major problems thanks to Bitcoin.